Buses - Turkey | Statista Market Forecast

In Turkey, the Buses market is anticipated to witness a significant rise in unit sales, projected to reach 10.35k vehicles by 2024.
This projection is based on an expected annual growth rate of 2.59% during the period 2024-2030.
Consequently, the market volume is estimated to reach 12.06k vehicles by 2030, highlighting the potential for growth in the Buses market sector.
Furthermore, the production of Buses market is expected to reach 19.55k vehicles units in 2030, further illustrating the market's potential.
Taking an international perspective, it is noteworthy that the China is expected to dominate the sales with 537.50k vehicles units in 2024.
Despite the global economic downturn, Turkey's bus market continues to thrive due to the country's growing tourism industry.

Definition

Buses & Coaches is a specialized market within the broader Commercial Vehicles market, focusing exclusively on vehicles used for the transportation of passengers both in urban and intercity settings. This market includes a wide range of vehicles, each tailored to specific passenger transportation needs, including public transit, school transportation, tourism, and long-distance travel. The gross vehicle weight rating (GVWR) of MHBCs typically exceeds 3.5 tons.

Buses and coaches are specifically engineered for transporting large groups of people, typically along established routes or for long-distance travel. These vehicles come in various sizes and configurations, including city buses, intercity coaches, minibuses, and luxury touring coaches. This market considers both the production and sales of buses used for public transportation, operated by government bodies or private enterprises, as well as private coaches employed for purposes like tourism, corporate transportation, and other specialized services.

Additional Information

Key players in the commercial Buses & Coaches market include established manufacturers such as Volvo Buses, Daimler Buses, and Scania, along with regional and specialized companies that cater to specific markets. These manufacturers play a crucial role in shaping the future of public transportation by introducing innovative technologies and eco-friendly solutions in their commercial vehicles.

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Tourist coaches
School buses
Public transit buses
Intercity or long-distance coaches

Watercraft, aircraft, and railway vehicles
Passenger cars
Off-road and specialized vehicles
Motorcycles and scooters
Light commercial vehicles (LCVs)
Commercial trucks
Consumer and recreational vehicles
Agricultural and construction equipment

The Buses market in Turkey has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Buses market in Turkey have been shifting towards more fuel-efficient and environmentally friendly vehicles.

This is in line with global trends where customers are increasingly concerned about the impact of transportation on the environment. As a result, there has been a growing demand for electric and hybrid buses in Turkey. Customers are also looking for buses with advanced safety features and comfortable interiors, which has led to an increase in the production and sales of buses with modern amenities.

In terms of market trends, the Buses market in Turkey has witnessed a rise in the adoption of smart technologies. Bus manufacturers are incorporating advanced technologies such as GPS tracking, real-time passenger information systems, and automated ticketing systems to enhance the efficiency and convenience of bus services. These technologies not only improve the overall passenger experience but also enable bus operators to optimize their operations and reduce costs.

Local special circumstances in Turkey have also contributed to the development of the Buses market. The country has a well-established public transportation system, with buses playing a crucial role in providing affordable and accessible transportation to the masses. The government has been actively investing in the modernization and expansion of the bus fleet to meet the growing demand for public transportation.

Additionally, Turkey has a young and growing population, which has led to an increased need for reliable and efficient transportation options. Underlying macroeconomic factors have further fueled the growth of the Buses market in Turkey. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income and improved living standards.

This has led to a higher demand for personal and public transportation, including buses. Furthermore, the government has implemented favorable policies and incentives to promote the production and adoption of buses, which has attracted both domestic and foreign investments in the market. In conclusion, the Buses market in Turkey is developing rapidly due to customer preferences for fuel-efficient and technologically advanced vehicles, market trends towards smart technologies, local special circumstances such as a well-established public transportation system, and underlying macroeconomic factors such as economic growth and government support.

These factors are expected to continue driving the growth of the Buses market in Turkey in the coming years.

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of buses.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The public transportation network in the United Kingdom comprises a series of heavy rail, light rail, and bus services that connects millions every day. For instance, National Rail reported more than 1.3 billion passenger journeys per year in the fiscal year 2022/23. On the financial side, public sector spending on transport amounted to roughly 26 billion British pounds in 2022/23 for railways, around 60 percent of total public expenditure on transport. By comparison, the overall share of transport public expenditure on local public transit was 10 percent that same year, at around 4.3 billion pounds. In 2022, the average weekly household spent on transport services was 12.8 British pounds, with people aged 30 to 49 year-old spending the most.